Zitra Investments turns to capital market as deposits exceed N30 billion

Zitra Investments Limited is raising N50 billion through Commercial Paper (CP) Programme as it seeks additional funding to support lending, geographical expansion and investment in digital infrastructure, following growth in customer deposits to more than N30 billion in the first nine months of 2026.

The development was disclosed at the programme’s signing ceremony in Lagos, where the company’s management and transaction advisers disclosed objectives for the fund-raising initiative.

The programme provides Zitra with an additional capital market financing platform as its customer deposits and revenue expand, strengthening its capacity to support its growing financial services businesses.

Speaking at the signing ceremony, Zitra Investments’ Chief Executive Officer, Babatunde Obadero, said customer deposits had increased significantly over five years, providing a stronger foundation for the company’s entry into the capital market.

Obadero said the growth in customer deposits demonstrated the confidence customers had placed in the institution and provided the platform to explore further funding opportunities.

The proceeds are expected to support the operational and funding requirements of these businesses, while facilitating geographical expansion, increasing transaction capacity and accelerating investment in digital infrastructure.

The company, however, did not disclose the amount it intends to issue immediately, the maturity period or the applicable pricing.

Zitra’s entry into the commercial paper market comes amid increasing reliance on the instrument by Nigerian companies seeking alternatives to conventional bank borrowing.

The development reflects growing interest in capital market funding as businesses seek additional financing channels to support working capital, operational requirements and expansion plans.

Mulberry Advisory Services Limited served as Lead Arranger, while Duale, Ovia & Alex-Adedipe acted as Legal Adviser. FCMB was appointed Collecting and Paying Agent, with End2End Advisory serving as transaction adviser.

The transaction therefore brings together several capital market participants to facilitate the company’s access to commercial paper financing.

The N50 billion programme represents an additional financing platform for Zitra as it seeks to expand its financial services operations and strengthen its capacity to serve customers.

The company said its business ecosystem includes a microfinance bank and an asset management company, with different funding requirements supporting their respective activities.

The next stage will be the actual issuance of commercial paper, with the amount raised, applicable interest rates and maturity terms determining the funding available to support the company’s expansion plans.

Your email address will not be published. Required fields are marked *

Save my name, email, and website in this browser for the next time I comment.

Notify me of follow-up comments by email.

Zedvance Launches ExtraCash, Empowering Nigerians to Show Up Ready

Oando, LAMATA Advance Lagos’ Electric Mobility Drive with Rollout of New Mass Transit Buses

Access Holdings and Coronation Host Tate International Council Members and Global Acquisitions Supporters in Lagos